ELEVATE is an initiative by Government of Karnataka to provide a comprehensive entrepreneurship platform for startups. The Department of Information Technology, Biotechnology, and science and technology have shortlisted 77 startups out of 250 finalists for Elevate 2018.
These top technology-based startups chosen through a rigorous hunt across Karnataka State will receive a whopping sum of Rs 50 lakhs each (approx) from Government funds.
The chosen startups were spread across the segments of IT-ITeS, agritech, ESDM, medical devices, biotech, cleantech, and more. Majority of the winners came from Bengaluru.
The Government is also keen to reach out the startup communities spread across Tier II and III cities of the state. For this, it plans to set up incubation centers in cities such as Belgaum and Kalburgi. Hardware incubation centers are also planned in locations such as Mysore, Hubballi, and Mangalore.
Another interesting fact is that about 25% of the selected startups were women-led.
Karnataka Principal Secretary, Department of IT & BT, Gaurav Gupta said the state government was actively considering engaging with the startups, especially in the area of procurement services. “There are certain challenges while working with startups for our procurement services, but we are confident that these would be overcome a period of time,” he said.
“A lot of entrepreneurs have ideas that are great, but what can help them really shine is the right guidance from the right people. That is also what we will be providing at the incubator at Elevate 2018,”
“The right funding at the right time is important for startups, and so is the right mentorship. Through Elevate, the Government of Karnataka will ensure that innovators in the state are not lacking in either,” he added.
77 Qualified startups.
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